Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) — The “Global Intravascular Catheters Market Analysis & Forecast to 2024-2034” report has been added to ResearchAndMarkets.com’s offering.
The global intravascular catheters market continues to experience significant expansion, driven by advancements in medical procedures and a rising tide of chronic conditions. According to recent analysis, the market size, valued at USD 0.667 billion in 2023, is projected to escalate to a compelling USD 1.79 billion by 2034, charting a CAGR of 9.41%. This growth trajectory underscores the critical role that intravascular catheters play in administering treatments across a spectrum of health conditions, including cardiovascular and neurological disorders, among others.
The latest report delves into the dynamics propelling the market forward, among which includes the surge in regulatory approvals of cutting-edge intravascular catheters. A prime example from February 2023 involves the FDA 510(k) clearance of Northeast Scientific Inc’s reprocessed peripheral vascular catheter, which exemplifies the sector’s ingenuity and commitment to patient safety and cost effectiveness.
Intravascular Catheters Market Analysis & Forecast by Product indicates that the segment for short peripheral intravenous catheters dominated the market revenues in 2023. Their lower infection rates, and the increasing prevalence of diseases necessitating vascular access, keep these catheters at the forefront of preference for healthcare providers.
The report also highlights an anticipated spurt in growth of integrated peripheral intravenous catheters, attributing it to advancements such as BD’s introduction of a novel, needle-free blood draw technology compatible with integrated catheters—further simplifying the “One-Stick Hospital Stay” concept and bolstering segment growth.
Market Analysis by Application: Sector Overview
- The ‘others’ category, spanning various chronic diseases and trauma cases, emerged as the top revenue contributor in the current landscape.
- Growth in the infectious diseases segment is expected to race ahead, fuelled by a higher incidence of infections and escalating hospital admissions.
When it comes to end-users, hospitals remain the primary revenue generators in the intravascular catheters sphere, reflective of the volume of treatments administered in these settings. Innovations like the NIRF-IVUS imaging catheter by Intravascular Imaging Incorporated are emblematic of the sophisticated solutions being introduced in clinical environments.
Furthermore, the rise of Ambulatory Surgical Centers (ASCs) contributes to market progression due to their cost-effective and infection-reducing environment. The ASC segment is projected to grow rapidly, catering to various surgical needs outpatient.
In terms of geography, North America leads the way, buoyed by a strong culture of medical innovation and product launches such as Shockwave Medical’s Shockwave M5+ catheter. Meanwhile, Asia Pacific is expected to emerge as the fastest-growing region—spurred by rising disease prevalence, launches of advanced medical devices, and infrastructural development—as evidenced by Wipro GE Healthcare’s unveiling of the Optima IGS 320.
The report encompasses a comprehensive analysis of the intravascular catheters market including detailed segmentation and insightful regional breakdowns. By offering a lucid forecast, the study serves as a valuable resource for stakeholders looking to navigate the evolving landscape of intravascular medical devices.
Advanced technologies and unfolding opportunities across regions, sectors, and products in the global intravascular catheters market set the course for an intriguing decade of growth and transformation in health care.
|No. of Pages
|2023 – 2034
|Estimated Market Value (USD) in 2023
|Forecasted Market Value (USD) by 2034
|Compound Annual Growth Rate
Segmentation: Intravascular Catheters Market Report 2023 – 2034
Intravascular Catheters Market Analysis & Forecast by Product 2023 – 2034 (Revenue USD Bn)
- Integrated Peripheral Intravenous Catheters
- Short Peripheral Intravenous Catheters
Intravascular Catheters Market Analysis & Forecast by Application 2023 – 2034 (Revenue USD Bn)
- Infectious Diseases
- Renal Disease
Intravascular Catheters Market Analysis & Forecast by End-user 2023 – 2034 (Revenue USD Bn)
- Ambulatory Surgical Centers (ASC)
- Edwards Lifesciences Corporation
- Boston Scientific Corporation
- McKesson Medical-Surgical
- Getinge AB
- Terumo Corporation
- Conavi Medical
- Coloplast Corp
- Smith & Nephew plc
- Johnson & Johnson Private Limited
- Infraredx Inc.
- Cardinal Health
For more information about this report visit https://www.researchandmarkets.com/r/ya9mml
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- Global Intravascular Catheters Market